Summary

The major indices are lower at midday, with the Nasdaq down more than 1%. Consumers again are being partly blamed, for the pulldown. The Consumer Confidence Index dropped sharply to 98.3 for February, compared to 105.3 in January. Economists had expected a decline but not by this much. This is the third month in a row that consumer mood has fallen. The reasons continue to be inflation and overall affordability. Today’s number, published by The Conference Board, was highly anticipated as its peer indicator, Consumer Sentiment, put out by the University of Michigan, fell last Friday and is being partly blamed for the selloff in the stock market th